All Forum Posts by: Alyssa Dyer

Hey Chad! If refi is the goal, most of the investors I know work with a national lender that's still doing refi! Happy to make an intro. 

@Nicholas Van Blarcom how's the research going? For more comparable numbers if you're talking cash on cash OKC is usually at 10-12% in C class areas. Those deals are 60-80k and have a tenant in place. No upgrade needs to happen up front so you cash flow from day one. 

@Joel Bullock I totally understand that. Just let me know whenever you're ready! 

I'm OKC all the way. I'm building my own portfolio here and helping others do the same. 

@Scott Harris if you work with a great team they'll have vendors they've vetted over the years. They've essentially built an extended team for you from plumbers to rehab crews. No need to reinvent the wheel! That said if you work with a team with great systems and go-to providers but you want a more customized experience you could run into snags. I'd just make sure that the PM you decide on provides the type of service you're looking for when it comes to that arena! 

@Joel Bullock good luck! I'd connect with a lender and start getting those ducks in a row. I LOVE Marcie Hines/The Hines Team at Cornerstone. They are next level customer service & they understand investing in OKC. Marcie and her husband personally invest. Let me know if you want an intro! 

@Joshua Clark great to hear! Looks like you're on the right path. Reach out if questions come up along the way! 

@Bernice Hampton The multifamily and single family I manage in OKC are not experiencing many Covid related late or non-payments. We’ve seen ~2% of our tenants need to be evicted and another ~2.5% proactively let us know they’d move out when making payments became an issue. There has been a hold on evictions, but this isn’t isolated to Section 8. This includes all properties which are backed by Fannie or Freddie (etc). The “eviction hold” lifts on July 25th. Our state is traditionally very landlord friendly/

Rex is totally spot on that multifamily with the same returns as single family (in similar classes) is tough to lock down. I keep my search off-market and over the around ~200 deals I see close each year only around 5 are multifamily. So you can snag it here but you’ve got to get creative or take a hit to returns if you’re hardline on only multifamily. Single family is a different story!

@Alexander Rotolo Just backing up what many have said above. Keep your cash flowing rental and just get qualified for another property that you plan to move into for a year. Make sure to purchase with the cost of maintaining, insurance, taxes and possibly a property on your duplex in mind ensuring that that the second property will also make you money when you move out of it.  

@Joel Bullock it's also important to remember that when you're house hacking you're snagging a property at only 3-5% down and you're lowering your cost of living. You're also likely self managing and maybe even doing little repairs yourself. All of these things will help the performance of your rental. You don't have to get a blow your mind 10% cap rate to make sense, especially with you cutting out some of the expenses along the way. A duplex is possible. A single family home will give you more options to choose from!